More than 1.11 lakh exporters have benefited from the duty refund initiative as India works to keep its exports globally competitive.
The Indian government has disbursed more than Rs 15,756.96 crore to exporters until 25 December this fiscal under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha on Friday.
The scheme, implemented on 1 January 2021, refunds embedded taxes and duties on exported goods that are not otherwise rebated under any other mechanism. It has so far benefited more than 1.11 lakh exporters, helping ensure that Indian exports remain competitive in global markets in a WTO-compliant manner.
In FY22, the total remission disbursed stood at Rs 14,798.42 crore, rising to Rs 18,794.56 crore in FY25. Labour-intensive sectors including textiles and apparel, marine products, agricultural products, chemicals, and engineering goods are among the key beneficiaries of the scheme.
Source: The Economic Times
